Marketing firm serves startups

Marketing is vital during a business startup, but entrepreneurs often lack the time or talent for it, says marketing veteran Ellen Schlafer, who has developed a consulting firm to address that need.

"They know their own business and products, but they aren't thinking about who their target market is, how to reach them and who the competition is," said Schlafer, president of Fort Lauderdale-based Electrum Marketing.

Electrum helps young businesses understand those issues and markets them by writing brochures, arranging production of videos and other promotional material, and providing guidance on business plans.

Software company Aleriant and printing company Allied Graphics, both in Fort Lauderdale, and Boca Raton-based 1st United Bank are among companies that took their first marketing steps with Electrum and remain as clients. Legacy Bank of Florida, which is raising capital and hopes to open in Boca Raton in 2006, is a current Electrum client.

Schlafer started Electrum in July 2004, after serving as senior VP for marketing at Sunrise-based Union Bank. Her former employer was a client until Colonial Bank bought it in February 2005 and moved marketing to its Montgomery, Ala., headquarters.

Electrum's main goal was advising banks - an industry Schlafer had worked in since the 1970s, including lending and marketing jobs at the former Barnett Bank.

As Schlafer attended chamber of commerce lunches and other business events, she met owners of several young businesses, in various industries, that felt they needed marketing support. That led Electrum to seek more early-stage clients.

Electrum has three full-time employees, including Schlafer. The company uses public relations firms, video companies and other consultants on some projects.

Electrum became profitable in September - 14 months after its launch.

The firm does not disclose its fees. The company gives clients the option of a retainer, or paying on a per-project or hourly basis.

"Many young businesses are not ready for retainers, and they prefer a project or hourly rate," Schlafer said.

In addition to marketing, there probably are other services start-ups and other young businesses need, but can't perform without outside help, she said.

Even one South Florida businessman with a marketing-related business is using Electrum to help get his message out.

Tony Stromberg retired as group VP of corporate relations for Deerfield Beach-based JM Family Enterprises last year and formed Crossingate, which holds seminars for businesses on "thinking like an entrepreneur."

Stromberg met Schlafer at a golf tournament last summer and she had ready advice on his expanding the number of seminars and promoting a book he plans to write.

Electrum is revising Crossingate's brochures and helping the company find more businesses for its seminars.

Stromberg said: "I can execute the product, but there is so much to do in marketing and Ellen has the expertise on that."